]]>Seven of the 29 hybrid vehicles offered in Canada promise lower cost of ownership than their conventionally-powered equivalent.

This info came yesterday when automotive cost-of-ownership data research firm Vincentric released its Canadian Hybrid Analysis. In it, seven of 29 hybrid vehicles analyzed were identified as having a lower total cost-of-ownership than their closest all-gasoline counterparts.

In a similar study released in October 2014, but of the U.S. market, the company stated 10 of 31 hybrid vehicles analyzed were identified as having a lower total cost-of-ownership than their closest all-gasoline counterpart.

Yes, the number of hybrid vehicles available in the U.S. (31) is greater than in Canada (29).

Among the 7 hybrids with lower ownership costs in Canada were the Lexus CT200h and the Lincoln MKZ Hybrid, which when compared to their all-gasoline counterparts had savings of over $11,500 and $4,000 respectively.

Additional hybrids from Ford, Honda, Hyundai, Lexus, and Toyota also showed cost advantages, added Vincentric. The average price premium for a hybrid vehicle was $5,984 with average fuel cost savings of $3,986.

When the costs to own and operate all 29 hybrid vehicles were taken into account, the average five-year cost-of-ownership for hybrids was $2,976 more than their all-gasoline powered counterparts, said Vincentric.

“The higher market prices of hybrids cause several cost factors to increase including finance, opportunity costs, fees and taxes, and depreciation. In some cases fuel cost savings can help offset these costs, but with fuel prices decreasing approximately 33 percent in the past six months, increased fuel efficiency alone is not always enough to keep hybrids competitive with their all-gas counterparts,” said David Wurster, Vincentric President. “However, with nearly a quarter of hybrids still offering cost advantages, it is important that consumers look at individual models to understand the cost implications of hybrid technology for that vehicle.”

To conduct the Canadian Hybrid Analysis, Vincentric said it measured total cost-of-ownership using eight different cost factors: depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. Of course, the research firm used the Canadian prices and data for these items.

Vincentric added the analysis assumed vehicle ownership of five years and 25,000 annual kilometers (15,534 miles) of driving.

Information regarding this analysis and a chart showing results for all vehicles analyzed is available on Vincentric’s website.

According to data from the study, for those who are looking to minimize fuel purchases, it is important to know the hybrid vehicles with the lowest overall fuel costs. They are:

]]>http://www.hybridcars.com/vincentric-study-hybrids-are-worth-it/feed/0Are Hybrid Vehicles Worth It?http://www.hybridcars.com/are-hybrid-vehicles-worth-it/
http://www.hybridcars.com/are-hybrid-vehicles-worth-it/#commentsFri, 31 Oct 2014 04:00:02 +0000http://www.hybridcars.com/?p=211865We hear the question often: do hybrid vehicles really save money? Research company Vincentric, specialized in cost-of-ownership data, studied the matter. In releasing its most recent Hybrid Analysis, the company stated 10 of 31 hybrid vehicles analyzed were identified as having a lower total cost-of-ownership than their closest all-gasoline counterpart. Over the past three years […]

Research company Vincentric, specialized in cost-of-ownership data, studied the matter.

In releasing its most recent Hybrid Analysis, the company stated 10 of 31 hybrid vehicles analyzed were identified as having a lower total cost-of-ownership than their closest all-gasoline counterpart.

Over the past three years the percentage of cost-effective hybrids has dropped from 44 percent in the 2012 analysis, to 39 percent in 2013, to now just over 32 percent.

Vincentric said among the 10 hybrids with lower ownership costs were the Lexus CT 200h and the Toyota Avalon Hybrid, which when compared to their all-gasoline counterparts had savings of over $7,600 and $3,200 respectively. Additional hybrids from Acura, Audi, Honda, Hyundai, Lexus, Lincoln, and Toyota also showed cost advantages.

However, when the costs to own and operate all 31 hybrid vehicles were taken into account, the average five-year cost-of-ownership for hybrids was $1,339 more than their all-gasoline powered counterparts.

“In some cases, fuel cost savings associated with hybrid vehicles are able to offset their price premium. However, hybrids are losing their competitive edge due to the improved fuel economy of gas-powered combustion engines and falling fuel prices,” said David Wurster, Vincentric President. “Consumers must look at individual models to determine whether a hybrid or its gas-powered counterpart has lower ownership costs and will save them money in the long run.”

To conduct the Hybrid Analysis, Vincentric explained it measured total cost-of-ownership using eight different cost factors: depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. The analysis assumed vehicle ownership of five years and 15,000 annual miles of driving.

The ten hybrid vehicles Vincentric found were offering savings are as follow:

2014 Acura ILX Hybrid ($1,613)

2014 Audi Q5 Hybrid ($2,611)

2014 Honda Insight ($86)

2014 Hyundai Sonata Hybrid ($1,379)

2014 Infiniti QX60 Hybrid ($191)

2014 Lexus CT 200h ($7,632)

2014 Lexus ES 300h ($1,179)

2014 Lincoln MKZ Hybrid ($3,252)

2014 Toyota Avalon Hybrid ($3,356)

2014 Toyota Camry 2014.5 Hybrid ($1,075)

For those who drive more and are focused solely on fuel cost, Vincentric listed the five hybrid vehicles with the lowest overall fuel costs. They are:

]]>http://www.hybridcars.com/are-hybrid-vehicles-worth-it/feed/02013 Hybrid Analysis Shows 13 Hybrids Worth It Money-Wisehttp://www.hybridcars.com/2013-hybrid-analysis-shows-13-hybrids-worth-it-money-wise/
http://www.hybridcars.com/2013-hybrid-analysis-shows-13-hybrids-worth-it-money-wise/#commentsWed, 23 Oct 2013 14:06:41 +0000http://www.hybridcars.com/?p=84049New data was released in the quest to provide an answer to the new-old question: are hybrids the wiser option money-wise. Vincentric announced its 2013 Hybrid Analysis on October 22, in which 13 of 33 hybrid vehicles were identified as having a lower total cost-of-ownership than their all-gasoline counterparts. Although this is an increase of […]

]]>New data was released in the quest to provide an answer to the new-old question: are hybrids the wiser option money-wise.

Vincentric announced its 2013 Hybrid Analysis on October 22, in which 13 of 33 hybrid vehicles were identified as having a lower total cost-of-ownership than their all-gasoline counterparts.

Although this is an increase of 2 vehicles compared to the eleven cost-effective hybrids in the 2012 study, with the increased number of hybrids available, the percentage of financially cost-effective hybrids dropped from 44 percent to 39 percent.

Vincentric said the 13 hybrids with lower ownership costs included the Lexus CT200h and the Lincoln MKZ Hybrid, which when compared to their all-gasoline counterparts had savings of over $6,300 and $4,700 respectfully.

However, when the costs to own and operate all 33 hybrid vehicles were taken into account, the average five-year cost-of-ownership for hybrids was $1,338 more than their all-gasoline powered counterparts, assuming an annual mileage of 15,000.

“As the prevalence of hybrid technology grows, our research shows that consumers are seeing additional vehicles that are financially advantageous when compared to their all-gasoline counterparts,” stated David Wurster, President of Vincentric. “However, because over half of the hybrids we evaluated have higher five-year ownership costs compared to their all-gasoline counterparts, it is important that consumers look at individual models to understand the cost implications of hybrid technology for that vehicle.”

Vincentric revealed the following hybrid vehicles had cost of ownership numbers that were less than the all-gasoline powered counterparts:

2013 Acura ILX Hybrid (-$471)

2013 Audi Q5 Hybrid (-$3,805)

2013 Ford Fusion Hybrid (-$803)

2013 Honda Insight (-$1,079)

2013 Hyundai Sonata Hybrid (-$1,674)

2013 Lexus CT 200h (-$6,379)

2013 Lexus ES 300h (-$195)

2013 Lincoln MKZ Hybrid (-$4,778)

2013 Mercedes-Benz S Class Hybrid (-$3,283)

2013 Toyota Avalon Hybrid (-$2,222)

2013 Toyota Prius C (-$474)

2013 Toyota Prius V (-$1,528)

2013 Volkswagen Jetta Hybrid (-1,487)

Meanwhile, for those whose purchase of a hybrid is based upon minimizing the environmental impact and not strictly financially driven, the report identifies additional viable vehicles. The following hybrid vehicles were shown to have additional costs of less than $2,000 over 5 years, or less than $34 per month more than the gas-powered counterpart:

Vincentric said it measures eight cost elements for over 3,000 vehicles configurations per model year, including depreciation, financing, fees and taxes, fuel, insurance, maintenance, opportunity cost and repairs. Each month Vincentric re-compiles its database to take into account current vehicle prices, resale values, fuel costs, finance rates and other economic and market factors to ensure that users have access to up-to-date and accurate ownership costs.